John Taylor, Professor of Economics at Stanford University and developer of the "Taylor Rule" for setting interest rates | Stanford University
John Taylor, Professor of Economics at Stanford University and developer of the "Taylor Rule" for setting interest rates | Stanford University
After careful evaluation, Stanford University has decided not to proceed with the purchase of the Notre Dame de Namur University (NDNU) campus property in Belmont. This decision follows a period of assessment where various factors, unforeseen at the time of entering into an option purchase agreement nearly four years ago, were considered.
Stanford expressed appreciation for the community's interest and support during their exploration of the NDNU campus and its potential uses. "We have consistently heard that the community would like the property to be revitalized and continue to be used for academic and other community-serving purposes," Stanford stated, affirming that their vision was in alignment with this feedback.
During discussions with Belmont's community and city leaders, Stanford explored possible academic uses for a potential campus there. However, they found that establishing such uses would require more time than initially anticipated. Furthermore, changes in the landscape for research universities since entering into the agreement have introduced new uncertainties and challenges for Stanford.
Despite not moving forward with acquiring the campus, Stanford remains committed to supporting Belmont through contributions aimed at enhancing public K-12 education, renewing local infrastructure like the Barrett Community Center, and improving transportation. The university is also collaborating with NDNU and city officials to aid in determining NDNU's future steps regarding their property.
Alerts Sign-up